PROFILE: BROKERS AT WAR
AUGUST 2008
Tony Verrier tells Tullett Prebon he is resigning as chief operating officer in order to join rival BGC Partners.
SEPTEMBER 2008
Tullett begins legal proceedings against Verrier in an attempt to prevent him working for BGC until the following summer.
NOVEMBER 2008
Verrier agrees not to start work for BGC until January 2009.
DECEMBER 2008
Verrier arranges to have dinner with an unnamed person from Tullett. The meeting is later ruled to be “plainly part of the recruitment exercise”.
JANUARY 2009
Verrier starts work for BGC as executive managing director and general manager, with duties including recruitment
FEBRUARY 2009
13 Tullett staff tell the firm they have agreed to jump ship to BGC when allowed to do so by their existing contracts. Three staff later decide to remain in their positions.
MARCH 2009
Tullett serves legal papers on BGC. Soon after 10 of the 13 Tullett staff claim they have suffered constructive dismissal and say they would join BGC as soon as possible.
MARCH 2010
High Court judge rules that Verrier and others conspired to induce breaches of contract. Verrier “lost or disposed” of eight blackberries, some of which contained “inconvenient material”, according to Mr Justice Jack.
FEBRUARY 2011
Court of Appeal dismisses appeal by BGC and says the original ruling was “meticulous”.
FEBRUARY AND MARCH 2012
Verrier tells the FSA he poses no risk to UK market confidence, his actions did not break criminal law and it would be “unjust” to base an order on a judge’s ruling.
MAY 2012
FSA bans Verrier and says he is not a “fit and proper person”. He says he will take an appeal to the Upper Tribunal.